For most organizations Budget Process takes too long. In average it takes 4-5 months per year with 60% of organization directly involved into Planning process. FP&A Teams work extra hard in times of Budget Process. Business teams usually perceive it as a painful yearly event which requires a lot of effort and yields disproportionally less value.
Why is this happening?
Budget Process, historically designed to generate Budgets, is used today to solve several quite different business planning needs:
Annual Planning, Target Setting, Forecasting and sometimes even Strategic Planning and Sales & Operations Planning.
As a consequence, Budget Process becomes an expensive, time-consuming event, failing to deliver a desired output.
- What the 3 main reasons are why Budget Process takes excessive time
- How best-in-class Budget Process Timeline looks like
- How to calculate Total Cost of your Budget Process and reduce it
- How Connecting Planning Platform called Anaplan can accelerate Planning Processes for your FP&A team.
.. and make Budget Process a “non-event” for your organization!